EY and Microsoft announce expansion of collaboration to drive a US$15b growth opportunity and technology innovation across industries
-- Reinvent and modernize back office business and public finance operations
-- Build a first-of-its-kind data fabric solution to help organizations harness the value of enterprise data
-- Transform regulated industries with innovative cloud-based platforms underpinned by trust
-- Scale products and services through extensive investments in resources and training
LONDON, Aug. 11, 2021 /PRNewswire/ -- EY and Microsoft today announce the expansion of their strategic relationship to further align EY business ingenuity with Microsoft's cloud technologies to create long-term value for their respective clients with an incremental US$15b growth opportunity over the next five years. The increased collaboration will focus on launching new solutions and platforms that help organizations address business and societal challenges at scale through digital transformation.
The relationship concentrates on helping clients reinvent back office operations and innovate in key regulated sectors like financial services, energy, health, government and manufacturing. In addition, the collaboration will create managed services that fuel client transformation, unlock value and develop a first-of-its-kind, enterprise-scale, trusted data fabric. EY teams will further extend the operation of the EY Microsoft Services Group to provide clients with deeper access to more than 40,000 experienced EY technology consulting professionals to meet changing demands. Microsoft will work with EY teams to train more than 150,000 EY professionals on Microsoft technologies and is dedicating engineering talent to accelerate the development of key solutions over the next five years.
Andy Baldwin, EY Global Managing Partner – Client Service, says:
"The power of the EY and Microsoft relationship is deepening as we help people around the world, and support clients to do more with their data in areas previously underserved by technology, such as tax and finance. We are building on our collaborative success in multiple domains to help businesses and governments save costs, monetize data, realize long-term value and create agility. With this significant expansion of our relationship, we will leverage Azure, Power Platform and combined EY and Microsoft engineering capabilities to support organizations and businesses to modernize back office operations, leverage the cloud and accelerate transformations with new Microsoft-enabled solutions and platforms."
Judson Althoff, Executive Vice President and Chief Commercial Officer, Microsoft, says:
"Today's announcement is the next step in our long-standing relationship with EY. It means we will be able to provide greater overall technical expertise for our customers' cloud strategies through new solutions and platforms. In addition, our collaboration will enable customers in regulated industries to bring the power of the cloud to their back-office operations, fundamentally changing how they harness data to drive critical business functions."
EY teams help companies transform their businesses digitally without making their own infrastructure investments by leveraging the combination of both Microsoft Power Platform and Azure. In addition, EY professionals can now help accelerate innovation with clients with one of the largest enterprise deployments of Microsoft Power Platform across the globe.
An established global leader with its Azure-based audit solution and Azure-based tax solution (Global Tax Platform), EY teams will continue to focus on reinventing back office operations with the technical provision of managed services across various areas such as tax, supply chain, risk and compliance and other managed services. Within these fields, combined EY and Microsoft teams are helping accelerate the development of key solutions including adoption of managed services in tax (EY Tax and Finance Operate), employee mobility (EY Pathway) and supply chain to help businesses save costs and boost agility, and drive the digitization of public finance systems to improve domestic resource mobilization.
EY and Microsoft teams are helping clients orchestrate a cloud for business. As part of this approach, EY and Microsoft are collaboratively developing the EY Trusted Data Fabric – a first-of-its-kind enterprise data offering that will automate the processing and adoption of data and provide access to data with advanced artificial intelligence (AI)-powered data management capabilities across multiple EY platforms. Combining EY Trusted Data Fabric with Microsoft's Power Platform allows both teams to add more capabilities to EY Azure-native managed services platforms offering access to the most advanced technologies and helping clients create products to quickly innovate.
In addition, EY and Microsoft teams will collaborate on cloud solutions for regulated industries to help accelerate digital transformation and help clients overcome regulatory hurdles to move to and innovate in the cloud. Focus industries include financial services, health, energy and government. The collaboration will integrate proven offerings such as EY Financial Crime Platform, which drives trust in capital markets by protecting consumers and financial institutions from financial crime, and EY Comply, which efficiently controls, manages and reports financial regulatory requirements for financial institutions, into their Microsoft Cloud for Financial Services solutions.
For more information, visit ey.com/microsoft.
Notes to Editors
All financial information provided is unaudited unless otherwise noted or accompanied by an audit opinion and is subject to the more comprehensive information contained in Microsoft's SEC reports and filings. Microsoft does not endorse third-party information. Microsoft does not undertake a duty to update the information. Forward-looking statements are subject to risks and uncertainties described in the Microsoft Forms 10-Q and 10-K.
Joanna Hardy
EY Global Media Relations
+1 212 773-4473
joanna.c.hardy@ey.com
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